Pound

While Hurricane Ike began to pound the Texas coast Friday near Galveston and petroleum products and natural gas futures climbed on the day, front-month crude futures broke below the psychological $100/bbl mark for the first time in more than five months before settling higher as well. October natural gas futures finished the week at $7.366, up 11.8 cents from Thursday but 8.3 cents lower than the previous week’s close.

In a move that brings together two of the energy industry’s800-pound gorillas, Texaco and Enron North America announced lastweek they are combining their Louisiana pipeline and storage assetsin a new joint venture called Bridgeline Holdings LP.

In a move that brings together two of the industry’s 800-poundgorillas, Texaco and Enron North America announced yesterday theyare combining their Louisiana assets and marketing in a new jointventure called Bridgeline Holdings LP.

Last year was one of misery for most energy companies,particularly producers. It was so bad that one industry analyst iscalling for sweeping change in how producers do business.